Headlands Technologies LLC Sells 657 Shares of Elevance Health, Inc. (NYSE:ELV)

Headlands Technologies LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 90.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72 shares of the company’s stock after selling 657 shares during the period. Headlands Technologies LLC’s holdings in Elevance Health were worth $34,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. abrdn plc boosted its holdings in Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after acquiring an additional 129,364 shares during the last quarter. Cerity Partners LLC boosted its holdings in Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after acquiring an additional 9,199 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Elevance Health in the fourth quarter valued at approximately $218,000. Chicago Capital LLC boosted its holdings in Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after acquiring an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in Elevance Health in the fourth quarter valued at approximately $2,235,000. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ELV has been the topic of several analyst reports. Jefferies Financial Group upped their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Royal Bank of Canada boosted their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Barclays boosted their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. UBS Group boosted their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $525.61 on Friday. The firm has a market capitalization of $122.16 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.17 and a beta of 0.78. The stock’s 50 day moving average is $513.28 and its 200-day moving average is $488.46. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.46 EPS. Sell-side analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.